NAIROBI: Kenya's shilling was steady on Friday, supported by the central bank's assurance it would step in to calm any jitters about the impact of Britain's vote to exit the European Union, but some banking stocks and other shares extended losses.
Equity Bank and Co-operative Bank were down more than 2 percent, although Kenya Commercial Bank was unchanged.
The benchmark NSE20 index of leading shares closed on Thursday at 3,744 points, its lowest level since mid-2012, after rising from near that level in January to an April high around the 4,050-mark.
Investors have been booking profits on stocks and attracted by better returns from government securities, traders said. They said there was no sign yet that uncertainty about the global impact of Britain's vote was hurting the share market.
By 1012 GMT, the shilling was quoted at 101.10/30, little changed from Thursday's close of 101.10/40. Traders said the central bank's assurance that it would intervene if needed had helped keep the shilling steady.
"Customers have gone quiet considering the comfort they are getting. It is all about the central bank now," said one trader.
Finance Minister Henry Rotich said Kenya had enough foreign exchange reserves to deal with any impact from the British vote. Reserves now stand at about five months import cover, higher than the four months the country usually holds.
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